Group Urges FG to Establish Special Economic Zones Projects


By Ugo Aliogo

The Organized Private Sectors Investors Association of Africa Special Economic Zones Projects (OPSIAASEZ) has called on President Muhammadu Buhari to approve the proposed establishment of the Nigeria Special Economic Zones Projects (NSEZ) in the six geo–political zones and the Federal Capital Territory, (FCT).

It noted that many developed countries have keyed into the initiative and leveraged greatly on SEZs to achieve far reaching economic transformation in their respective countries.

China is a typical example of the developed economy that has taken maximum advantage of the platform.

Speaking recently during the OPSIAASEZ memorandum presentation to President Buhari, the Chairman, Board of Trustees of OPSIAASEZ, Amb. Peter Isibor, stated that Africa is very much endowed in human and natural resources, most of which, are untapped due to paucity of required vision, political will and lack of expected technology to explore and exploit our abundant resources.

He also called on the federal government to approve the establishment of the Nigeria’s PCIG initiated Private Sectors Investors’ driven Development Bank.

“PCIG is pursuant to effective functionality of the NSEZ projects as mandatorily required by the Organized Private Sectors Investors Association of African Special Economic Zones Projects platform, and the PolyFuel Group Limited’s investment proposal and the request for appropriate provision of 120 Million Euro sovereign or Bank Guarantee with attendant security, pursuant to the groups proposed investment in Nigeria, as well as PCIG request for a sovereign guarantee of 100 Million US Dollars for the PCIG initiated and/or driven Organized Private Sectors’ Investors Association of Nigeria Special Economic Zones Projects across the six Geo–Political zones and 36 States of Nigeria including Abuja, the Federal Capital Territory, to facilitate the funding for the development agenda of NSEZ,” he stated.

The OPSIAASEZ President also urged Buhari to approve PCIG request for intellectual property license on the development of (4Ps) concept that adopts sectorism theory of (PCIG) for its operation the realization of the NSEZ programme.

Isibor further explained that if these abundant resources are prudently tapped and fully utilized, the narrative of Africa as a continent would change drastically for the better.

Continuing, he said: “The untapped status of our human and natural resources and their underutilization has been largely responsible for our chronic backwardness and until this is addressed, Africa will continue to experience degeneration in many spheres of our economic lives. This fact has been reckoned with by renowned investors in Europe and other progressive continents of the world that have truly dedicated their endowed resources and sufficiently utilized same to address or better their standard of living. Investors in these countries have seen the imperative need to cross fertilize ideas and thereby extend their goodwill to the African continent to assist us escape from our socio – economic and political quark mire.”

He maintained that the proposed Nigeria Special Economic Zones Projects (NSEZ) across the 36 States and the FCT, by PCIG initiated programme of action, in collaboration with the organized private sector investors association of Africa special economic zones, is underscored with the primary purpose by catalyzing the country’s vision of industrial revolution.

The Executive Group President, PCIG hinted that the proposal is accomplishable through the already establish collective and collaborative strategy and would stimulate, “the desired inclusive and all–embracing economic growth and development through essential Jobs and wealth creation.”

He added: “In addition to creating appropriate hub for industrialization, the Nigeria Special Economic Zones shall provide appropriate facilities and infrastructure for technology and general intellectual drives and transfers in satisfaction of areas of disadvantage through PCIG’s unique National Institute for Job and Wealth Creation co ltd/gte, (NIJWC). This has been certified as a centre of learning and excellence, innovation, vocation and enterprise development, necessary to support the Federal Government economic recovery and growth plan arising particularly from the economic meltdown induced by the Covid 19 pandemic and other national and international economic challenges.”